U.S. Chamber President: Exploding Debt Greatest Threat to our Economic Future

Wednesday, January 9, 2013 - 7:00pm

Donohue Unveils New Agenda to Tackle Fiscal Challenges and Drive Economic Growth

WASHINGTON, D.C.—U.S. Chamber of Commerce President and CEO Thomas J. Donohue today delivered his annual State of American Business address, calling our exploding national debt the single biggest threat to our economic future, and urging leadership and action to tackle the enormous fiscal challenges and build a new prosperity that offers opportunity for all Americans.

“The imperative of economic growth should not be an afterthought. It must be job one,” said Donohue. “As a nation and a people, we must finally face up to the single biggest threat to our economic future—and that is our exploding national debt, driven by runaway deficit spending, changing demographics, and unsustainable entitlements.  Congress and the administration must focus their attention on this critical priority. Economic growth cannot solve all of our problems, but without growth, we will not be able to solve any of them.”

In his address, Donohue unveiled the Chamber’s 2013 American Jobs and Growth Agenda, which would generate stronger economic growth by producing more American energy, expanding American trade, modernizing our regulatory system, and reforming our immigration and visa policies. The agenda also emphasizes the urgent need to address the fiscal crisis with a bold plan that slows the growth of runaway spending, reforms entitlement programs, and overhauls our tax code.

“The over-riding objective of this ambitious plan is to generate stronger economic growth in order to create jobs, lift incomes, and expand opportunity for all Americans,” he said. “America needs big solutions so it’s time to put the smallness of politics aside. We call upon all of America’s leaders in and out of government to put country first.”

The U.S. Chamber’s 2013 American Jobs and Growth Agenda:

To view Donohue’s speech and the Chamber’s Jobs and Growth Agenda visit: http://www.uschamber.com/sab

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.